RIGHTS OF PLEDGER
Right to Seek Damages: The Pledger is entitled to seek compensation for any damages resulting from the negligence of the Pledgee. Additionally, the Pledger may claim damages that arise from any unauthorized use of the pledged items.
Right to Request Return of Goods: The Pledger has the right to reclaim the pledged goods promptly upon the settlement of the debt. Should the Pledgee fail to return the goods, the Pledger is entitled to seek compensation.
Right to Claim Profits: The Pledger is entitled to any increase or profits that may arise from the pledged goods.
Right to Terminate the Pledge: The Pledger has the authority to terminate the pledge if the Pledgee engages in any actions that violate the terms and conditions of the pledge agreement.
Right to Initiate Legal Action: The Pledger may initiate legal proceedings against the Pledgee if the latter fails to return the goods or breaches the contractual agreement.
DUTIES OF PLEDGER
Duty to Reveal Defects: The Pledger is obligated to disclose any known defects in the pledged goods. Failure to do so may result in liability for damages caused by such defects.
Duty to Cover Expenses: When the Pledgee is responsible for the storage or transportation of the pledged goods, the Pledger must bear all associated expenses.
Duty to Reimburse Extraordinary Expenses: If the Pledgee incurs extraordinary expenses related to the pledged goods, it is the responsibility of the Pledger to reimburse those costs.
Duty to Compensate for Defective Title: In cases where the Pledger’s title to the goods is defective and the Pledgee suffers a loss as a result, the Pledger is required to indemnify the Pledgee for that loss.
Duty to Accept Returned Goods: The Pledger is responsible for accepting the return of the goods once the Pledgee has fulfilled the purpose of the pledge.
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